How To Safely Source And Manage Products From Overseas

Steps from idea to source and finally sell 

1. Draft a Mood diagram on ideas 

2. IP, Trademark and Design registration 

        a. US patent and trademark office

        b. UK intellectual property office

3. NNN/NDA (non-Use, non-disclosure, and non-circumvention)/ non-disclosure agreement 

        NNN agreement template free( for reference only)

4. Trade shows Vs B2B platforms Vs Internet(google) Vs Recommendations  

        a. A recommendation on a trusted manufacturer is the most important part of the supply chain. 

5. Hire a consultant - Domain expert to help with End to End project management. 

6. Find and Vet series of suppliers 

7. 3D, 2D Rendering, Design, tooling, and sampling 

8. Request a quote, finalize MOQ, Pricing, sampling, time, and payment terms 

9. Quality control check 

10. Payment options

        a. Upfront TT (BANK TRANSFER): Risk level: High

        b. Letter of Credit: Risk level: Medium, Works Well for > £15K order

        c. PAYPAL/TransferWise - Risk Level: Low

        d. ESCROW: Risk level low 

11. Shipping and Logistics 

12. Hire highly proficient photographers

13. Optimize Social media and presence on Google

14. Public relations, attain Domain authority

15. Independent Reviews to build trust 

16. Mail chimp/ Mailerlite to spread the word

Fig 1: Step by Step flow chat of idea to product

Table 1: Parameters for vetting the manufacturer.

Brands post covid need to rethink store/ shop formats, build stronger relationships with suppliers, and leverage on consumer sentiment for small business and use technology solutions for better decision making.